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BSTUATTEftHLISOTSOSRICSATL. SOCIETY "--" r" 5v ., .. & jLL 0. 65201
72nd Year No. 24 Good Morning! It's Thursday, October 1 I, 979 2 Sections 24 Pages - 15 Cents
JBEg9hl 4vvjKeHSLBIBoSg JrlHoai BRraal SbSA3L ny fWRcCb3Vv gANfff9fll hByiki Bu" Hn 3n E5SH3i mBBhhlt HUSI f" fm8m1b0SlakrF fLtSfeoia Bu. aBgsS" 9& tBgOfwarHRaj mmSmS yIn9BI AvLS4fIeHk CW8SsiUL if8Hf9ls AWhBf iwBniBV9HfT b&- fBBi9tSoB. l IHBBniSrH0HohriIItSth r4efai HB6H3n eeShvil IbH3SPfeQft KffnMljir vvgfi ffBii3On tEHWhrffBW iwnBvUsraa fHaflEa3Th" ii S99B93 mKB SBHSlTronn9 HBs fhHfk"
New York Times
NEW YORK Panic selling by many small
investors swamped the New York Stock Ex-change
Wednesday following two days of sharp
drops in stock prices and violent jumps in inter-est
rates: Trading soared to a record 81.6 mil-lion
shares, well above the previous record of
66.4 million shares reached on Aug. 3, 1978.
For all the volume, however, the market suf-fered
only modest losses. The Dow Jones indus-trial
average was down 8.27 points to 849.32 at
the market's 4 p. m. close, although it had been
down by nearly 25 points earlier in the af-ternoon.
Buying by cash- ric- h pension funds and
other large investors looking for bargains in the
pandemonium brought prices up from the huge
declines they had seen during the course of the
day.
However, Wednesday's decline brought the
total loss for the week to nearly SO points.
In the credit markets, prices sank and inter-est
rates again soared in active, nervous trad-ing.
The break was described by dealers as one
of the worst in memory, and, as one trader put
it, " I don't think we've reached bottom."
The tumult in the markets was set off by the
Federal Reserve Board's announcement last
Saturday that it was raising the discount rate
by a full percentage point and would keep a
closer hold on money supply growth through a
new strategy of monetary policy. That an-nouncement,
which many economists saw as
welcome medicine for an inflationary economy,
sent prices sprawling in both the bond and
stock markets on Monday and Tuesday, al-though
the full impact of the Fed program is
still not widely understood.
To some observers, the upward surge in gold
prices in recent months and the continued
plunge of the dollar in foreign exchange mar-kets
two of the primary factors that Dressed
the federal reserve to act recalled memories
of the speculative activity that led up to the
stock market crash on Oct. 29, 1929. On that
day, later named Black Tuesday, the Dow
plunged more than 11 percent.
The market's worst decline this week
Tuesday's drop of 26Vi points represented a
setback of just under 3 percent. And 50 years
later, market participants point to the heftier
margin requirements and investor insurance
program as two of the many improvements
that make this era different from the one that
preceded the Great Depression.
Nevertheless, Wednesday's uniqueness was
evident from the moment brokers started arriv
ing at their offices. The phones were ringing off
their hooks with people wanting to sell stocks.
Top- lev- el executives at some of the smaller
brokerage firms found themselves called into
duty to handle the onslaught
The heavy volume of orders meant that it
was not always possible to find out whether an
order had been fulfilled, or at what price. The
high- spee- d stock market ticker fell behind right
from the start By 11 a. m., the tape was running
13 minutes late. Shortly after noon, the tape
was running 36 minutes late, breaking the pre-vious
record of 35 minutes set on Oct. 30, 1978.
By 4 p. m., when the gong sounded to end trad-ing
on the market's busiest day in history, the
tape was a full hour and three minutes late.
Meanwhile, ripple effects of this week's U. S.
trading action were felt in foreign markets, re-sulting
in sharp losses in stock markets in New
York, Toronto, Paris and London.
In Canada, the Toronto Stock Exchange's 300- sto- ck
composite index dropped 50.86 points to
1,689.48 following Tuesday's record decline of
64.37 points.
Heavy selling knocked down prices of French
equities from 5 to 10 percent Wednesday in one
of the worst slumps on the Bourse in 20 years.
London stocks suffered their largest one- da- y
drop in nearly four months because record UJ5.
interest rates dimmed chances for an early de-cline
in UJC. rates.
The Financial Times Index gave up 10.9 to
472. British government bonds sagged under
the selling pressure. Gilt stocks fell sharply and
even oils failed to escape. Gold shares provided
the only contrast, with rises ranging from x to
over 3 points.
Columbia's
brokers stay
calm in face
of bad news
While the New York Stock Exchange
experienced its heaviest trading day in
history Wednesday, most of Colum-- j
bta's investors stayed calm during the
panic over plummeting stock prices.
Tom Baumgardner, a general part-ner
with Edward D. Jones & Co., S07 E.
Broadway, said the tape quoting stock
prices was an hour behind, so stock- - I
brokers were unable to know the cur-rent
selling price for most stocks. If a
stock was selling for $ 65 a share,
according to the hour- lat- e tape, an in-vestor
would not want to sell because
the price may have gone up to $ 67, he
said.
" The conservative investors were
stepping aside to wait to see what the
price actually was," Baumgardner
said.
wmiam BaySrfrTB8er Mrm?
hard Cook & Co. Inc., 10 N. Garth Ave.,
said most of his customers are long- ter- m
investors. " They don't think the
market's going to go down in the long
run because the government isn't
going to do enough to slow inflation
down," he said.
Cliff Manlove, broker for B. C.
Christopher and Co., 12 N. Second St,
said it was a relatively normal day ex-cept
he had more phone calls than
usual. " A lot of people were interested
in what was happening, and some took
advantage of the low prices," he said.
iiimmii mum mum ii it mini n in 1
1 mi iib r" 1--""-"-""-
"" riraaTarrrTTrirregTrwBiTiTtiitriTiTminrri
San Francisco brokers John Kryzankowski, left, and North Sta- me- ts
consult a computer terminal to check puzzling developments
UPItcfepfcete
on the New York Stock Exchange. Trading information ran an
hour late because of heavy volume on the exchange.
Money mart
certificate
yield jumps
By Chuck Cozette
Missourian staff writer
The interest rate on six- mon- th mon-ey
market certificates jumped more
than 0.3 percent Wednesday from last
week's record yield of 10.327 percent.
The increase, to 10.662 percent an-nual
yield, means that Columbians can
earn about $ 30 more this week on a
$ 10,000 certificate investment than
they could last week. Compounded
over the six- mon- th period, the effec-tive
yield on the certificates is now al-most
11 percent
Money market certificates are a new
kind of savings certificate available at
local banks which are tied to the float-ing
average interest of short- ter- m fed-eral
Treasury notes. They are de-signed
to give individual savers some
of the benefits of the bond markets,
which previously had been available
only to large- scal- e investors.
This is the third record high in the
past month, prompting increasing in-terest
in the certificates. " We've cer-tainly
had more buyers and inquiries
for the money market CD's," said Jer-ry
Singfield, assistant vice president of
Century State Bank.
The record- hig- h yields cannot be at-tributed
to any one factor, but the Fed-eral
Reserve's tight money policy
probably had a substantial effect.
" The rise in the discount rate and the
tightening money situation probably
( See RATES, Page 16A) Tx dollars in escrow while school budget suffers
By Julie Wieos
ROssoariao staff writer
More than 1600,000 in county tax rev-enue
sits idly in an account at Boone
County Bank and about $ 400,000 of that
is earmarked for the Columbia School
District.
The money represents taxes paid un-der
protest by IBM, Xerox and NCR
Corp. All three companies have filed
suit in Circuit Court to protest assessed
valuations of office machines and com-puters
they lease to doles, county
schools and other organizations.
The money is idle because it cannot
be distributed until an agreement is
reached between the county and the
corporations or until the matter is re-solved
in the courts.
But the county, the Columbia School
District and the corporations may be
headed toward an out- of- co- urt set-tlement,
Prosecuting Attorney Joe Mo- sele- y
said.
IBM is fighting the Missouri State
Tax Commission's latest formula for
assessing a corporation's tangible per-sonal
property. One of the major points
of dispute is the way depreciation is
handled.
There already has been one hearing
on the matter and Moseley said a deci-sion
may be announced soon.
Moseley is negotiating with all three
corporations. Although some proposals
for a settlement have been made, Mo-seley
said none have been accepted. He
would not disclose the terms of the pro-posals.
The matter has not come to trial in
Circuit Court.
St. Louis is the only other of Missou-ri's
114 cdunties with unsettled tax pro-tests,
Moseley said. Jackson County,
which includes Kansas City, was one of
the last counties to reach an
agreement with the corporations. Mo-seley
said the terms of that agreement
might be used as a model for a set-tlement.
The corporations are seeking lower
valuations. But the entire amount of
the corporations' taxes except for
about $ 136,000 of IBM's taxes has
been kept in escrow accounts. Thus,
uncontested taxes revenue that
would be generated even from the cor-porations'
requested lower valuations
are not being distributed to schools,
cities and other political entities sup-ported
by tax funds.
The dispute is a long- standi- ng one.
Xerox first protested its valuation in
1976. IBM and NCR protested their val-uations
in 1977.
In a June 1973 agreement between
the county and IBM, $ 136,523.66 was re-leased
from IBM's protest account to
be disbursed to designated tax funds.
More than $ 84,000 of that went to the
Columbia School District.
At the time, IBM protested that its
1977 assessed valuation was more than
double the amount it should have been.
IBM's total county tax bill that year
was $ 288,749.96.
Roger Wilson, who was county col-lector
at the time, called the
agreement a " goodwill gesture" on
IBM's part.
Since then, however, no agreements
have been reached nor have any tax
( See THOMPSON, Page 13A)
Birds fly high
Doug DeCinces was the goat
with his glove but the hero with
his bat as the Baltimore Orioles t held on for a 5-- 4 win over the
Pittsburg Pirates in the first
game of the World Series.
DeCinces committed two
crucial errors, but his two- ru- n
homer capped a five- ru- n first
inning that carried the Orioles
to victory. See Page 8A.
Mil wn jtoiiay
Sam. Boone County Court meets. Commission at 7 p. m. in the City 8
County- Cit- y Building, fifth floor. Council chambers. 8
1 9 o-- m. Don Zuchelli, Flat Branch 7: 3 p. ra. " I Do! I Do!", play at
1 development consultant, will speak Stephens College South Campus msr 8
I to areaproperty owners at the Cam-- ditoriian, $ 4 adults, $ 2 sttsdcnJo with 1
pus Inn, 1112 Stadium Blvd. His pro-- IDs.
amotion will be repeated at a noen VM pm. " Kennedy's CMMrea'
I Snch- N- Lear-n
session at the Shsr-- play at Stephens Warehooao The- -
ston Hotel, 111 E. Broadway; tids-- ater. & eaSoKa, $ 1. K s& yfcnto xsiih
ete are $ 2. Zuchelli also will address IDs--
the Columbia Planning sod Zoning MsvlelMtegaaa Page ISA
Ohio firms sues KCSJ for broken contract
By Rkes& a Steariey
Bffsmnariaa staff writer
An Ohio news media group has filed
a breach of contract suit against Co-lumbia's
KCBJ- T- V ( Channel 17).
Raymond Dix, president of Wooster
Republican Printing Co. of Wooster,
Ohio, said the station's owners, Rich-ard
and Robert Koenig, signed an
agreement to sell KCBJ, but a family
disagreement prevented the sale's
completion to Dix's company.
KCBJ is owned by Channel Seven
teen Inc. Richard Koenig of Columbia
is president of the company.
" It's all very simple," said Dix, a
1930 graduate of the University. " We
signed an agreement to buy the chan-nel,
and Richard and Robert signed a
contract to sell."
" Something happened between Rich-ard
and his brother, Robert," he
added. " Richard wrote us a letter with-drawing
their agreement to sell be-cause
Robert didn't want the channel
to be sold."
Robert Koenig lives in Long Island,
N. Y. Both Richard Koenig and his son,
Tom, KCBJ's station manager, were
out of town Wednesday and unavail-able
for comment.
However, Dix said the company does
have a valid contract. On Nov. 5 the
case is scheduled to go before the
Western District U. S. District Court in
Jefferson City.
Dix's company will be represented
by Shughart, Thomson and Kilroy, a
Kansas City law firm. Local attorney
Cullen Clins and Jefferson City attor-ney
Alex Bartlett will defend KCBJ.
A Jefferson City court spokeswoman
said the Wooster firm filed its action
Aug. 28 and KCBJ received a court
summons Sept. 4.
" We hope the court proceedings are
done by the first of the year," Dix said.
" People are running around out there
( at KCBJ), and they're upset because
they don't know who they're working
for."
Dix said the company paid $ 50,000 as
an escrow payment this August, sdd--
( See FCC, Page 13A)
Uehling: Budget cuts won't affect security
By Gsry Bradley
Sfigsesrfaa stsB write?
The University's campus security
budget has been reduced by slightly
more than 10 psressi, but Chancellor
Barbara Uehling said Wednesday
there will be no reduction in protection.
" A tightening of the budget does not
mean a reduction in security for stu-dents,"
Dr. Uehling said at a morning
news conference.
Part of the slack from the personnel
redaction, University Police Chief Ron
Mason said, has been picked up by stu-dent
cadets employed by the campus
police.
" We would like to use them for non- poli- ce
type jobs and use the officers for
more important matters," Mason said.
He said there are a few more cadets
working for the force this year than
last
Mason said he also is pleased with
the awareness of potential problems by
student groups on campus.
" We're trying to develop more eyes
and ears on campus to let us know if
there is a potential problem."
Later in the day, a University news
release stated that new educational
programs and improved lighting also
have helped bring about a safer en- cam- pus
environment.
The release said that night- tim- e sur-veillance
has been increased by the
University Police Department, and the
student police cadets are adding to the
protection, especially at residence
halls.
A major aspect of the security plan
is the systematic upgrading of lighting
on campus.
" Funds are budgeted this fiscal year
for replacement of lighting around the
Boots and Blair residence halls to the
south of Kentucky Avenue. Incandes-cent
lighting will be replaced with high
pressure sodium units, giving greater
intensity at less expense," the release
said. Cost of the project is approst- -
ma tely $ 15,000.
Dr. Uehling said a monitoring of the
security budget since July found that
the University was spending more on
security than other Big Eight institu-tions.
She said her original goal was to cut
the security budget by 10 to 15 percent,
but the goal of 15 percent is no loogffir
feasible.
Mason said the reductions In Urn hag- g- et
were achieved maisily ttmniggi ng
ductions in the masher of seasjity pay
sonnel.
He said that attfcougii tbd sfea eg ttt&
security staff w& s redneg& so cos waa
laid off.

BSTUATTEftHLISOTSOSRICSATL. SOCIETY "--" r" 5v ., .. & jLL 0. 65201
72nd Year No. 24 Good Morning! It's Thursday, October 1 I, 979 2 Sections 24 Pages - 15 Cents
JBEg9hl 4vvjKeHSLBIBoSg JrlHoai BRraal SbSA3L ny fWRcCb3Vv gANfff9fll hByiki Bu" Hn 3n E5SH3i mBBhhlt HUSI f" fm8m1b0SlakrF fLtSfeoia Bu. aBgsS" 9& tBgOfwarHRaj mmSmS yIn9BI AvLS4fIeHk CW8SsiUL if8Hf9ls AWhBf iwBniBV9HfT b&- fBBi9tSoB. l IHBBniSrH0HohriIItSth r4efai HB6H3n eeShvil IbH3SPfeQft KffnMljir vvgfi ffBii3On tEHWhrffBW iwnBvUsraa fHaflEa3Th" ii S99B93 mKB SBHSlTronn9 HBs fhHfk"
New York Times
NEW YORK Panic selling by many small
investors swamped the New York Stock Ex-change
Wednesday following two days of sharp
drops in stock prices and violent jumps in inter-est
rates: Trading soared to a record 81.6 mil-lion
shares, well above the previous record of
66.4 million shares reached on Aug. 3, 1978.
For all the volume, however, the market suf-fered
only modest losses. The Dow Jones indus-trial
average was down 8.27 points to 849.32 at
the market's 4 p. m. close, although it had been
down by nearly 25 points earlier in the af-ternoon.
Buying by cash- ric- h pension funds and
other large investors looking for bargains in the
pandemonium brought prices up from the huge
declines they had seen during the course of the
day.
However, Wednesday's decline brought the
total loss for the week to nearly SO points.
In the credit markets, prices sank and inter-est
rates again soared in active, nervous trad-ing.
The break was described by dealers as one
of the worst in memory, and, as one trader put
it, " I don't think we've reached bottom."
The tumult in the markets was set off by the
Federal Reserve Board's announcement last
Saturday that it was raising the discount rate
by a full percentage point and would keep a
closer hold on money supply growth through a
new strategy of monetary policy. That an-nouncement,
which many economists saw as
welcome medicine for an inflationary economy,
sent prices sprawling in both the bond and
stock markets on Monday and Tuesday, al-though
the full impact of the Fed program is
still not widely understood.
To some observers, the upward surge in gold
prices in recent months and the continued
plunge of the dollar in foreign exchange mar-kets
two of the primary factors that Dressed
the federal reserve to act recalled memories
of the speculative activity that led up to the
stock market crash on Oct. 29, 1929. On that
day, later named Black Tuesday, the Dow
plunged more than 11 percent.
The market's worst decline this week
Tuesday's drop of 26Vi points represented a
setback of just under 3 percent. And 50 years
later, market participants point to the heftier
margin requirements and investor insurance
program as two of the many improvements
that make this era different from the one that
preceded the Great Depression.
Nevertheless, Wednesday's uniqueness was
evident from the moment brokers started arriv
ing at their offices. The phones were ringing off
their hooks with people wanting to sell stocks.
Top- lev- el executives at some of the smaller
brokerage firms found themselves called into
duty to handle the onslaught
The heavy volume of orders meant that it
was not always possible to find out whether an
order had been fulfilled, or at what price. The
high- spee- d stock market ticker fell behind right
from the start By 11 a. m., the tape was running
13 minutes late. Shortly after noon, the tape
was running 36 minutes late, breaking the pre-vious
record of 35 minutes set on Oct. 30, 1978.
By 4 p. m., when the gong sounded to end trad-ing
on the market's busiest day in history, the
tape was a full hour and three minutes late.
Meanwhile, ripple effects of this week's U. S.
trading action were felt in foreign markets, re-sulting
in sharp losses in stock markets in New
York, Toronto, Paris and London.
In Canada, the Toronto Stock Exchange's 300- sto- ck
composite index dropped 50.86 points to
1,689.48 following Tuesday's record decline of
64.37 points.
Heavy selling knocked down prices of French
equities from 5 to 10 percent Wednesday in one
of the worst slumps on the Bourse in 20 years.
London stocks suffered their largest one- da- y
drop in nearly four months because record UJ5.
interest rates dimmed chances for an early de-cline
in UJC. rates.
The Financial Times Index gave up 10.9 to
472. British government bonds sagged under
the selling pressure. Gilt stocks fell sharply and
even oils failed to escape. Gold shares provided
the only contrast, with rises ranging from x to
over 3 points.
Columbia's
brokers stay
calm in face
of bad news
While the New York Stock Exchange
experienced its heaviest trading day in
history Wednesday, most of Colum-- j
bta's investors stayed calm during the
panic over plummeting stock prices.
Tom Baumgardner, a general part-ner
with Edward D. Jones & Co., S07 E.
Broadway, said the tape quoting stock
prices was an hour behind, so stock- - I
brokers were unable to know the cur-rent
selling price for most stocks. If a
stock was selling for $ 65 a share,
according to the hour- lat- e tape, an in-vestor
would not want to sell because
the price may have gone up to $ 67, he
said.
" The conservative investors were
stepping aside to wait to see what the
price actually was," Baumgardner
said.
wmiam BaySrfrTB8er Mrm?
hard Cook & Co. Inc., 10 N. Garth Ave.,
said most of his customers are long- ter- m
investors. " They don't think the
market's going to go down in the long
run because the government isn't
going to do enough to slow inflation
down," he said.
Cliff Manlove, broker for B. C.
Christopher and Co., 12 N. Second St,
said it was a relatively normal day ex-cept
he had more phone calls than
usual. " A lot of people were interested
in what was happening, and some took
advantage of the low prices," he said.
iiimmii mum mum ii it mini n in 1
1 mi iib r" 1--""-"-""-
"" riraaTarrrTTrirregTrwBiTiTtiitriTiTminrri
San Francisco brokers John Kryzankowski, left, and North Sta- me- ts
consult a computer terminal to check puzzling developments
UPItcfepfcete
on the New York Stock Exchange. Trading information ran an
hour late because of heavy volume on the exchange.
Money mart
certificate
yield jumps
By Chuck Cozette
Missourian staff writer
The interest rate on six- mon- th mon-ey
market certificates jumped more
than 0.3 percent Wednesday from last
week's record yield of 10.327 percent.
The increase, to 10.662 percent an-nual
yield, means that Columbians can
earn about $ 30 more this week on a
$ 10,000 certificate investment than
they could last week. Compounded
over the six- mon- th period, the effec-tive
yield on the certificates is now al-most
11 percent
Money market certificates are a new
kind of savings certificate available at
local banks which are tied to the float-ing
average interest of short- ter- m fed-eral
Treasury notes. They are de-signed
to give individual savers some
of the benefits of the bond markets,
which previously had been available
only to large- scal- e investors.
This is the third record high in the
past month, prompting increasing in-terest
in the certificates. " We've cer-tainly
had more buyers and inquiries
for the money market CD's," said Jer-ry
Singfield, assistant vice president of
Century State Bank.
The record- hig- h yields cannot be at-tributed
to any one factor, but the Fed-eral
Reserve's tight money policy
probably had a substantial effect.
" The rise in the discount rate and the
tightening money situation probably
( See RATES, Page 16A) Tx dollars in escrow while school budget suffers
By Julie Wieos
ROssoariao staff writer
More than 1600,000 in county tax rev-enue
sits idly in an account at Boone
County Bank and about $ 400,000 of that
is earmarked for the Columbia School
District.
The money represents taxes paid un-der
protest by IBM, Xerox and NCR
Corp. All three companies have filed
suit in Circuit Court to protest assessed
valuations of office machines and com-puters
they lease to doles, county
schools and other organizations.
The money is idle because it cannot
be distributed until an agreement is
reached between the county and the
corporations or until the matter is re-solved
in the courts.
But the county, the Columbia School
District and the corporations may be
headed toward an out- of- co- urt set-tlement,
Prosecuting Attorney Joe Mo- sele- y
said.
IBM is fighting the Missouri State
Tax Commission's latest formula for
assessing a corporation's tangible per-sonal
property. One of the major points
of dispute is the way depreciation is
handled.
There already has been one hearing
on the matter and Moseley said a deci-sion
may be announced soon.
Moseley is negotiating with all three
corporations. Although some proposals
for a settlement have been made, Mo-seley
said none have been accepted. He
would not disclose the terms of the pro-posals.
The matter has not come to trial in
Circuit Court.
St. Louis is the only other of Missou-ri's
114 cdunties with unsettled tax pro-tests,
Moseley said. Jackson County,
which includes Kansas City, was one of
the last counties to reach an
agreement with the corporations. Mo-seley
said the terms of that agreement
might be used as a model for a set-tlement.
The corporations are seeking lower
valuations. But the entire amount of
the corporations' taxes except for
about $ 136,000 of IBM's taxes has
been kept in escrow accounts. Thus,
uncontested taxes revenue that
would be generated even from the cor-porations'
requested lower valuations
are not being distributed to schools,
cities and other political entities sup-ported
by tax funds.
The dispute is a long- standi- ng one.
Xerox first protested its valuation in
1976. IBM and NCR protested their val-uations
in 1977.
In a June 1973 agreement between
the county and IBM, $ 136,523.66 was re-leased
from IBM's protest account to
be disbursed to designated tax funds.
More than $ 84,000 of that went to the
Columbia School District.
At the time, IBM protested that its
1977 assessed valuation was more than
double the amount it should have been.
IBM's total county tax bill that year
was $ 288,749.96.
Roger Wilson, who was county col-lector
at the time, called the
agreement a " goodwill gesture" on
IBM's part.
Since then, however, no agreements
have been reached nor have any tax
( See THOMPSON, Page 13A)
Birds fly high
Doug DeCinces was the goat
with his glove but the hero with
his bat as the Baltimore Orioles t held on for a 5-- 4 win over the
Pittsburg Pirates in the first
game of the World Series.
DeCinces committed two
crucial errors, but his two- ru- n
homer capped a five- ru- n first
inning that carried the Orioles
to victory. See Page 8A.
Mil wn jtoiiay
Sam. Boone County Court meets. Commission at 7 p. m. in the City 8
County- Cit- y Building, fifth floor. Council chambers. 8
1 9 o-- m. Don Zuchelli, Flat Branch 7: 3 p. ra. " I Do! I Do!", play at
1 development consultant, will speak Stephens College South Campus msr 8
I to areaproperty owners at the Cam-- ditoriian, $ 4 adults, $ 2 sttsdcnJo with 1
pus Inn, 1112 Stadium Blvd. His pro-- IDs.
amotion will be repeated at a noen VM pm. " Kennedy's CMMrea'
I Snch- N- Lear-n
session at the Shsr-- play at Stephens Warehooao The- -
ston Hotel, 111 E. Broadway; tids-- ater. & eaSoKa, $ 1. K s& yfcnto xsiih
ete are $ 2. Zuchelli also will address IDs--
the Columbia Planning sod Zoning MsvlelMtegaaa Page ISA
Ohio firms sues KCSJ for broken contract
By Rkes& a Steariey
Bffsmnariaa staff writer
An Ohio news media group has filed
a breach of contract suit against Co-lumbia's
KCBJ- T- V ( Channel 17).
Raymond Dix, president of Wooster
Republican Printing Co. of Wooster,
Ohio, said the station's owners, Rich-ard
and Robert Koenig, signed an
agreement to sell KCBJ, but a family
disagreement prevented the sale's
completion to Dix's company.
KCBJ is owned by Channel Seven
teen Inc. Richard Koenig of Columbia
is president of the company.
" It's all very simple," said Dix, a
1930 graduate of the University. " We
signed an agreement to buy the chan-nel,
and Richard and Robert signed a
contract to sell."
" Something happened between Rich-ard
and his brother, Robert," he
added. " Richard wrote us a letter with-drawing
their agreement to sell be-cause
Robert didn't want the channel
to be sold."
Robert Koenig lives in Long Island,
N. Y. Both Richard Koenig and his son,
Tom, KCBJ's station manager, were
out of town Wednesday and unavail-able
for comment.
However, Dix said the company does
have a valid contract. On Nov. 5 the
case is scheduled to go before the
Western District U. S. District Court in
Jefferson City.
Dix's company will be represented
by Shughart, Thomson and Kilroy, a
Kansas City law firm. Local attorney
Cullen Clins and Jefferson City attor-ney
Alex Bartlett will defend KCBJ.
A Jefferson City court spokeswoman
said the Wooster firm filed its action
Aug. 28 and KCBJ received a court
summons Sept. 4.
" We hope the court proceedings are
done by the first of the year," Dix said.
" People are running around out there
( at KCBJ), and they're upset because
they don't know who they're working
for."
Dix said the company paid $ 50,000 as
an escrow payment this August, sdd--
( See FCC, Page 13A)
Uehling: Budget cuts won't affect security
By Gsry Bradley
Sfigsesrfaa stsB write?
The University's campus security
budget has been reduced by slightly
more than 10 psressi, but Chancellor
Barbara Uehling said Wednesday
there will be no reduction in protection.
" A tightening of the budget does not
mean a reduction in security for stu-dents,"
Dr. Uehling said at a morning
news conference.
Part of the slack from the personnel
redaction, University Police Chief Ron
Mason said, has been picked up by stu-dent
cadets employed by the campus
police.
" We would like to use them for non- poli- ce
type jobs and use the officers for
more important matters," Mason said.
He said there are a few more cadets
working for the force this year than
last
Mason said he also is pleased with
the awareness of potential problems by
student groups on campus.
" We're trying to develop more eyes
and ears on campus to let us know if
there is a potential problem."
Later in the day, a University news
release stated that new educational
programs and improved lighting also
have helped bring about a safer en- cam- pus
environment.
The release said that night- tim- e sur-veillance
has been increased by the
University Police Department, and the
student police cadets are adding to the
protection, especially at residence
halls.
A major aspect of the security plan
is the systematic upgrading of lighting
on campus.
" Funds are budgeted this fiscal year
for replacement of lighting around the
Boots and Blair residence halls to the
south of Kentucky Avenue. Incandes-cent
lighting will be replaced with high
pressure sodium units, giving greater
intensity at less expense," the release
said. Cost of the project is approst- -
ma tely $ 15,000.
Dr. Uehling said a monitoring of the
security budget since July found that
the University was spending more on
security than other Big Eight institu-tions.
She said her original goal was to cut
the security budget by 10 to 15 percent,
but the goal of 15 percent is no loogffir
feasible.
Mason said the reductions In Urn hag- g- et
were achieved maisily ttmniggi ng
ductions in the masher of seasjity pay
sonnel.
He said that attfcougii tbd sfea eg ttt&
security staff w& s redneg& so cos waa
laid off.